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IDFC Research Report
The government has executed a re-think on the outstanding goods and services tax compensation issues by announcing intent to borrow itself under the Option 1 amount of Rs 1,10,000 crore and allocating this to states as loans.
It may be remembered that earlier the center had apparently insisted that, while it will ‘facilitate’ the borrowing for states, it will not borrow the amount itself.
This had been opposed by some states leading to a non-consensus that had dragged on for some time at the GST council.
This should therefore be a welcome development and allow the process to move forward.
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